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20121205
20121213
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week. avoiding the fiscal cliff is coming down to taxes. president obama told bloomberg tv yesterday he is willing to be flexible, but there will be no deal unless republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff
deal. that's what senator harry reid tells reporters. talks on the fiscal cliff appear to be hitting a wall as democrats and the gop remain stuck on the latest offers from each camp. the gop is stuck on extending bush-era tax breaks for the wealthy, and republicans say the president is failing to reduce government spending. "where are the president's spending cuts? the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff." "we have been calling on the speaker to bring forth a middle-income tax cut now for a very long time - in fact, since last summer when it passed the united states senate." here's a side-by-side check of where they stand: the president's plan calls for a raising $1.6 trillion in revenue by boosting tax rates on the incomes above $200,000 for individuals and $250,000 for couples. president obama also recommends $400 billion in spending cuts. representative boehner's calls for $800 billion in new revenue, $600 billion in savings from medicare and medicaid, and $300 billion from other domestic programs. in a big slip for small
of wobbly? > > i think next year you're going to have an issue with a push and pull from the fiscal cliff. on the one hand, business owners will actually have some certainty what tax rates are going to be, and that's a positive. that may unleash some hiring. and on the other hand, you are going to have tax increases. and that is actually not good for shorter-term growth. > brent schutte from bmo harris. thanks so much. > > thank you. still ahead, christmas may have come early for drivers. gasoline prices are headed lower. more on that next. w prices at the pump continue to slide. gas prices are down 3 cents on average nationwide to $3.37. the ever-energetic phil flynn of price futures group and a fox business news contributor joins us this morning. good morning phil. > > good morning! am i bringing good news to america. merry christmas! > we love this for a monday phil. so what is going on with gas supplies? > > it is called reefer madness-no! it's refiner madness! > there you go. > > last week, refiners rose to the occasion. in the aftermath of hurricane sandy, of course, the markets wer
with investors and traders trying to avoid that fiscal cliff, although potentially that could happen next year? > > we have seen two big trades really, angie. first, last week gold came off about $50 an ounce. it was rumored that hedge funds specifically were exiting long positions ahead of year-end to meet both investor redemptions as well as a number of other tax-related issues. secondly, the corporate bond market has been very busy over the last couple of weeks. corporates are issuing debt at record low yields, turning around and using that capital to pay out special dividends to shareholders. costco and home depot have been two specific names that have used that capital structure, arbitrage, in order to reward shareholders ahead of year-end. we may see a bit more of it in the next few weeks. > good to have you on the show. that is john brady of rj o'brien. thanks. > > thank you. lawmakers in michigan are on the verge of handing organized labor a defeat in a state where just 20 years ago more than one in four workers were union members. but that membership has since declined. our cover stor
Search Results 0 to 3 of about 4